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Speaker 1: News when you want it with Bloomberg News now i

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Speaker 1: med Kalgi. President Trump has stepped up calls to reopen

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Speaker 1: the vinal Street of Hormus, saying warships will hopefully be

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Speaker 1: sent to the area near Iron's coast to help commercial

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Speaker 1: vessels sail through safely. His comments on truth Social Saturday

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Speaker 1: called on China, along with the UK, France, Japan, and

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Speaker 1: South Korea, to send warships to the Strait of Hormus.

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Speaker 1: He said it is in the interest of these nations

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Speaker 1: to help keep the waterway open, safe and free, as

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Speaker 1: they are heavily affected by the closure of the strait.

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Speaker 1: The post, which did not provide a timeline, came hours

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Speaker 1: after he ordered a strike on military sites on karg Island,

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Speaker 1: from which Iran exports almost all its oil, upping the

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Speaker 1: ante in a Middle East war that's raged for more

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Speaker 1: than two weeks and shows little sign of easing. Then

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Speaker 1: Saturday afternoon, the President said on truth Social the US

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Speaker 1: will coordinate with international partners to ensure the safe passage

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Speaker 1: of ships through the Strait of Hormuz. The president also

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Speaker 1: posted that five tanker planes reported to have been struck

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Speaker 1: and damaged at a base in Saudi Arabia were not destroyed.

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Speaker 1: The closure of the strait has caused oil prices to soar,

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Speaker 1: but Bloomberg's Lea Glasgow says, with no end to the

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Speaker 1: conflict in sight, the waterway could be closed another month

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Speaker 1: or two.

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Speaker 2: The ripple effect is really going to be how is

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Speaker 2: going to impact the economy And obviously higher fuel costs

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Speaker 2: or inflationary people are going to be spending less money

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Speaker 2: at stores because they're being spending more on gas, and therefore,

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Speaker 2: like the domestic economy is going to take a hit,

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Speaker 2: and so you know GDP expectations around two and a

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Speaker 2: half percent right now. Obviously, if the longer this goes,

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Speaker 2: the more that gets shaved.

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Speaker 1: Off Bloomberg's leak Glasgow on Bloomberg. This weekend Friday, Brent

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Speaker 1: crude closed over one hundred dollars a barrel. The United

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Speaker 1: Arab Emirates suspended loading operations at a key oil trading

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Speaker 1: hub after a drone strike and fire Saturday, demonstrating the

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Speaker 1: vulnerability of the country's only export route. While the Strait

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Speaker 1: of Hormos is blocked, the blaze has since been extinguished,

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Speaker 1: which could potentially allow for loadings to zoom there were

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Speaker 1: no tankers at any of the port's oil loading points

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Speaker 1: on Saturday evening. The Trump administration has given VP the

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Speaker 1: green light to start crude production in the Gulf of

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Speaker 1: Mexico again. Bloomberg's Monica Ricks with details.

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Speaker 3: BP's planned a pump crude from the Cascutar project in

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Speaker 3: the Golf isn't scheduled to start production till twenty twenty nine,

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Speaker 3: but its initial phase is expected to produce about two

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Speaker 3: hundred and seventy five million barrels worth billions of dollars.

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Speaker 3: Cascado will bevp's first development in the Golf since the

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Speaker 3: deadly Deepwater Horizon disaster in twenty ten, which triggered the

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Speaker 3: worst oil spill in US history, and the company says

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Speaker 3: it's prioritizing safety of its people and the environment, despite

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Speaker 3: objections from democratic lawmakers and environmental groups who vowed to

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Speaker 3: fight the approval. Monica Ricks Bloomberg Radio.

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Speaker 1: Speaking in Beirut on Saturday, UN Secretary General Antonio Guterres

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Speaker 1: called for an immediate cessation of hostilities in the Middle East.

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Speaker 4: First of all, the n is extremely active. The proof

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Speaker 4: that is here and our special representatives is engaged with

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Speaker 4: the parties in order to create conditions for as soon

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Speaker 4: as possible to stop this war and to start a

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Speaker 4: serious process of negotiation.

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Speaker 1: UN Secretary General Antonio Gouterres. North Korea fired more than

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Speaker 1: ten ballistic missiles toward the East Sea, days after testing

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Speaker 1: cruise missiles from a new warship and adding to global

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Speaker 1: geopolitical risks that were already mounting after the US and

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Speaker 1: Israel attacked Iran. The missiles were launched from the Sunan

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Speaker 1: area near Pyeongyang on Saturday at about one twenty pm

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Speaker 1: local time. They flew roughly two hundred and seventeen miles

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Speaker 1: before landing in the sea. The launch coincided with annual

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Speaker 1: US South Korea military exercises that are running from March

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Speaker 1: ninth to the nineteenth, drills that Pyeongyang has long denounced

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Speaker 1: as rehearsals for invasion. FCC Chairman Brendan Carr has threatened

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Speaker 1: broadcasters with cancelation of their licenses if they did not

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Speaker 1: correct course on news coverage. Car set in a social

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Speaker 1: media post Saturday, broadcasters that are running hoaxes a news

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Speaker 1: distortions also known as the fake news, have a chance

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Speaker 1: now to correct course before their license renewals come up.

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Speaker 1: The laws clear broadcasters must operate in the public interest,

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Speaker 1: and they will lose their licenses if they do not.

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Speaker 1: Carr posted his warning on top of a post and

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Speaker 1: President Trump complaining about coverage of the US's rally strikes

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Speaker 1: on Iran. Wall Street wrapped up another volatale week with

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Speaker 1: losses that story from Bloomberg's Charlie Pellett.

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Speaker 5: The S and P five hundred index had its third

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Speaker 5: down week in a row, the fifth losing week in

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Speaker 5: the last six. For the week, the S and P

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Speaker 5: five hundred index dropped one point six percent. Netstak was

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Speaker 5: also down for a third week, down one point three percent.

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Speaker 5: The Dow on the week down by two percent. Bloomberg's

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Speaker 5: gauge for the mag seven closed one point six percent lower,

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Speaker 5: putting the group of megacap names including Nvidia and Tesla

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Speaker 5: into correction, or ten percent below it's October record. In

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Speaker 5: New York. Charlie Pellett Bloomberg Radio.

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Speaker 1: JP Morgan Chase's came up to help issuers sell billions

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Speaker 1: of dollars in junk bonds and leverage loans with deals

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Speaker 1: to fund the buyouts of electronic arts and sealed air

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Speaker 1: pois to start next week. More merger and acquisition driven

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Speaker 1: transactions are in the works, including one for software firm

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Speaker 1: Qualtricks International. Those offerings alone total more than thirty billion

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Speaker 1: dollars in debt. The JP Morgan bankers running these deals

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Speaker 1: have heard what chief executive officer Jamie Diamond has said

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Speaker 1: some firms are doing dumb things to boost profitability. Spotting

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Speaker 1: one cockroach in the market means there are probably more.

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Speaker 1: They've also seen the US war with Iran, which has

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Speaker 1: pushed up oil prices and stoked fears about rising inflation.

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Speaker 1: After three rounds of the Players Championship, Ludwig Abberg one

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Speaker 1: under for Saturday, thirteen under four of the tournament will

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Speaker 1: headed to Sunday's final round with a three shot lead.

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Speaker 1: And World Baseball Classic quarterfinal action, Italy defeated Puerto Rico

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Speaker 1: eight six. That's news when you want it with Bloomberg

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Speaker 1: News Now. IMD Kleggi, this is Bloomberg